New Construction in Birmingham Metro
Mount Olive, AL 35117
3 Beds - 2 Baths - 2 Car Garage
Square Feet | 1,272 | Initial Market Value | $266,900 | Purchase Price | $266,900 | Downpayment | $80,070 | Loan Origination Fees | $1,868 | Depreciable Closing Costs | $2,669 | Other Closing Costs and Fixup | $0 | Initial Cash Invested | $84,607 | Cost per Square Foot | $210 | Monthly Rent per Square Foot | $1.36 |
Income | Monthly | Annual |
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Gross Rent | $1,725 | $20,700 | Vacancy Losses | ($138) | ($1,656) | Operating Income | $1,587 | $19,044 |
Expenses | Monthly | Annual |
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Property Taxes | ($178) | ($2,135) | Insurance | ($100) | ($1,201) | Management Fees | ($108) | ($1,296) | Leasing/Advertising Fees | $0 | $0 | Association Fees | ($30) | ($360) | Maintenance | ($35) | ($414) | Other | $0 | $0 | Operating Expenses | ($451) | ($5,406) |
Net Performance | Monthly | Annual |
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Net Operating Income | $1,136 | $13,638 | - Mortgage Payments | ($1,181) | ($14,171) | = Cash Flow | ($44) | ($533) | + Principal Reduction | $174 | $2,088 | + First-Year Appreciation | $1,335 | $16,014 | = Gross Equity Income | $1,464 | $17,569 | + Tax Savings | $180 | $2,163 | = GEI w/Tax Savings | $1,644 | $19,732 |
| Mortgage Info | First | Second |
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Loan-to-Value Ratio | 70% | 0% | Loan Amount | $186,830 | $0 | Monthly Payment | $1,180.89 | $0.00 | Loan Type | Amortizing Fixed | | Term | 30 Years | | Interest Rate | 6.500% | 0.000% | Monthly PMI | $0 | |
Financial Indicators | |
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Debt Coverage Ratio | 0.96 | Annual Gross Rent Multiplier | 13 | Monthly Gross Rent Multiplier | 155 | Capitalization Rate | 5.1% | Cash on Cash Return | -1% | Total Return on Investment | 21% | + Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc. |
Assumptions | |
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Real Estate Appreciation Rate | 6% | Vacancy Rate | 8% | Management Fee | $108 | Maintenance Percentage | 2% |
Comments |
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Photos may be representative. Furniture not included. | *Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
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